The financing is the ‘largest ever’ by EIB and it will be managed by the state bank, Development Bank of Ethiopia (DBE)
Addis Abeba, June 29/2017 – “Small business across Ethiopia will benefit from a new 6.4 billion Birr (247 million Euro) lending and leasing program to be managed by the Development Bank of Ethiopia announced in Addis Abeba earlier today”, according to a statement from the European Investment Bank (EIB). The new initiative, backed by the European Investment Bank and World Bank, “represents the first international support in the Ethiopian financial sector and the European Investment Bank’s largest ever engagement in Ethiopia”. The new initiative will back financing for local companies by Ethiopian microfinance institutions, commercial banks and leasing firms.
Zecharias Zelalem, Special to Addis Standard
Addis Abeba, June 27/2017 – Although some experts say there was bound to be a head on collision within the Gulf States sometime in the not too distant future, the speed in which the recent diplomatic crisis unfolded has caught many off guard. It began on June 05 when Saudi Arabia, with the backing of Egypt, Bahrain and the UAE, abruptly severed diplomatic ties with Qatar accusing it of sponsoring terrorism and destabilizing the Gulf region. Although the Gulf States have in the past frequently found themselves at odds for one reason or another, it was clear from the get go that the recent crisis was no ordinary spat amongst cousins.
Addis Abeba, June 26/2017 - An acute humanitarian emergency is unfolding in Doolo zone, in Ethiopia’s Somali region, as malnutrition reaches alarming levels, warns Médecins Sans Frontières (MSF), whose teams are working in Doolo zone, the worst affected area.
“The numbers of young children with severe